TEF Transport acquires Millfield Haulage

Palletforce member TEF Transport has acquired fellow North Yorkshire haulier Millfield Haulage for an undisclosed sum, after it was offered the business following the retirement of owners Alfred (Ted) and Jayne Beat.

The Scarborough-based firm - which recently added four new Mercedes Benz Actros units to its 40 strong fleet – adds Millfield’s 20 staff, 40,000ft² of warehousing space and, according to TEF, £2m of annualised turnover to its business.

TEF MD Andy Mclaughlin, his wife Linda and fellow TEF Transport directors Dave Beckett and Marc Crosbie have all acquired a 100% shareholding of the business.

For the year-ending 31 October 2014 TEF had a turnover of £5.4m and made a pre-tax profit of £749,800. TEF said the business now has a turnover of approximately £6m.

Mclaughlin said that the two companies have some shared customers and that Millfield’s York location would bring “massive benefits” to its operation when it came to vehicle utilisation, reducing empty running for vehicles and additional warehousing.

“Millfield Haulage will also give TEF added flexibility and volume to ensure we continue to give our customers the first class service that we have become known for during the last 10 years. It will also ensure future growth as we add additional clients to our portfolio. Our plan is to double the fleet in York during the next 18 months,” he said.

Pictured (L to R): Harrowells Solicitors commercial division partner, Philip Lewis-Ogden; TEF Transport director, Marc Crosbie; TEF Transport managing director, Andy McLaughlin; TEF Transport director, Linda McLaughlin; TEF Transport director, Dave Beckett; Harrowells Solicitors, commercial division partner, Susie Mortonson; JWPCreers corporate finance partner, Tony Farmer, Harrowells Solicitors commercial division solicitor, Matthew Rowley and JWPCreers corporate finance team senior manager, Nick Barker.[/caption]

Millfield has a fleet of 14 vehicles comprising seven artics and seven rigids.

Andy and Linda Mclaughlin were advised by North Yorkshire accountants and business advisers, JWP Creers, with legal support from Harrowells Solicitors, York, in the deal funded by HSBC.